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The Dynamics of the Trade Balance and the Terms of Trade in Central and Eastern European Countries

Ferreira-Lopes, Alexandra; Sequeira, Tiago Neves - Unidade de Investigação em Desenvolvimento … - 2010

In this work we assess the existence of a S-Curve pattern in ten Central and Eastern European Countries (CEEC-10) for the relation between the trade balance and the terms of trade. Empirical results support the existence of this curve for Slovenia, Czech Republic, Hungary, and also for an...

Persistent link: https://www.econbiz.de/10010561664

The dynamics of the trade balance and the terms of trade in Central and Eastern European countries

Lopes, Alexandra Ferreira; Sequeira, Tiago Neves - In: Acta Oeconomica 64 (2014) March, pp. 51-71

In this work, we assess the existence of an S-Curve pattern in 10 Central and Eastern European countries (CEEC-10) for the relation between the trade balance and the terms of trade. Empirical results support the existence of this curve for Slovenia and Hungary. In the case of Bulgaria, the Czech...

Persistent link: https://www.econbiz.de/10010900410

Correctly Analyzing the Balance of Payments Constraint on Growth

Razmi, Arslan - Department of Economics, University of Massachusetts-Amherst - 2013

The BPCG model provides an interesting hypothesis regarding economic growth. The main implication is that world demand places a constraint on individual country performance. I discuss this implication and argue that tests of the BPCG model have essentially been tests of the hypothesis that trade...

Persistent link: https://www.econbiz.de/10010902494

Booms and busts in Latin America: The role of external factors

Izquierdo, Alejandro; Romero, Randall; Talvi, Ernesto - 2008

This paper analyzes the relevance of external factors in average quarterly GDP growth for 1990-2006 in the seven largest Latin American countries (LAC7). Modeling the relationship between LAC7 GDP and several external factors, it is found that those factors account for a significant share of...

Persistent link: https://www.econbiz.de/10010278267

Productivity spillovers, terms of trade, and the home market effect

Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo - 2005

This paper analyzes the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains from manufacturing efficiency and …

Persistent link: https://www.econbiz.de/10010283303

The Zero-Root Property : Permanent vs Temporary Terms of Trade Shocks

Olivier, CARDI - Institut de Recherche Économique et Sociale (IRES), … - 2005

This contribution shows that the persistence and the time of occurence of the shock matter in determining the long-run macroeconomic aggregates’ responses after permanent and transitory terms of trade shocks. Within a simple two-good small open economy model, we differentiate analyticaly...

Persistent link: https://www.econbiz.de/10004984841

Correctly Analyzing the Balance of Payments Constraint on Growth

Razmi, Arslan - 2013

Persistent link: https://www.econbiz.de/10010457025

Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries

Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - C.E.P.R. Discussion Papers - 2006

This paper investigates the international transmission of productivity shocks in a sample of five G7 countries. For … each country, using long-run restrictions, we identify shocks that increase permanently domestic labour productivity in … fall when its output grows, thus providing a mechanism to contain differences in national wealth when productivity levels …

Persistent link: https://www.econbiz.de/10005662111

Productivity, external balance and exchange rates: evidence on the transmission mechanism among G7 countries

Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - Department of Economics, European University Institute - 2006

This paper investigates the international transmission of productivity shocks in a sample of five G7 countries. For … each country, using long-run restrictions, we identify shocks that increase permanently domestic labor productivity in … fall when its output grows, thus providing a mechanism to contain di¤erences in national wealth when productivity levels do …

Persistent link: https://www.econbiz.de/10005816383

S-Curve Redux: On the International Transmission of Technology Shocks.

Enders, Zeno; Mueller, Gernot J. - Department of Economics, European University Institute - 2006

Using vector autoregressions on U.S. time series, we find that technology shocks induce an ‘S’- shaped cross-correlation function for the trade balance and the terms of trade (S-curve). In calibrating a prototypical international business cycle model to match the S-curve under complete and...

Persistent link: https://www.econbiz.de/10005816401